Solid export performance and falling imports result in trade surplus of $1.46 billion.
Vietnam’s total exports saw a year-on-year increase of 6 per cent in the first four months of the year, to $52.87 billion, according to the General Statistics Office (GSO).
Domestic enterprises recorded a year-on-year increase of 2.9 per cent, valued at $15.11 billion, while the exports of foreign-invested enterprises (FIEs) grew 7.3 per cent year-on-year, to $37.76 billion.
Crude oil exports fell 52 per cent to $678 million in the first four months due to major declines in global oil prices.
Thirty key export items rose strongly, including fruit and vegetables, up 43.3 per cent to $741 million, phone and components, up 23.8 per cent to $474 million, and gemstones and precious metals, up 22.8 per cent to $260 million.
Other key export items grew but at a low rate or fell, such as seafood, up 3.8 per cent, bamboo and rattan products (up 2.6 per cent), tea (down 14.2 per cent), and cassava (down by 23.5 per cent).
The GSO also reported that in the first four months imports fell 1.2 per cent year-on-year, to $51.4 billion, including $20.7 billion from domestic enterprises and $30.7 billion from FIEs.
Vietnam therefore recorded a trade surplus of $1.46 billion in the first four months of the year. Import items in steep decline included animal feed (down 17.7 per cent), petrol (33.3 per cent), and completely-built-up motor vehicles (23.5 per cent).
Imports from China fell significantly, to $14.7 billion, cutting Vietnam’s trade deficit with its northern neighbor by 12.7 per cent year-on-year, to $8.9 billion.